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Average price earnings ratios (times) by Hang Seng Industry Classification System
(Month-end figures)

Industry classification *	2016 Jun	Jul	Aug	Sep	Oct	Nov	Dec	2017 Jan	Feb	Mar	Apr	May
Energy	18.23	17.90	17.95	20.38	21.10	20.68	20.74	21.96	21.33	33.53	29.26	28.76
Materials	16.07	16.36	17.00	15.98	16.01	17.27	16.75	19.40	18.91	14.28	15.22	15.22
Industrials	13.18	13.24	14.04	13.89	13.82	14.25	13.89	14.83	14.92	14.72	14.71	14.53
Consumer Goods	16.26	16.64	17.15	17.69	18.19	18.69	17.95	18.62	19.18	17.70	18.03	18.36
Consumer Services	13.90	14.95	14.69	16.18	16.87	17.84	16.84	17.66	18.17	24.51	22.18	22.60
Telecommunications	14.45	15.51	15.53	15.35	14.62	14.04	13.59	14.42	14.13	16.17	15.71	16.44
Utilities	13.71	14.06	14.35	14.27	14.05	13.72	13.10	13.77	14.34	15.95	16.19	16.49
Financials	6.68	6.90	7.49	7.61	7.59	7.78	7.58	7.92	9.06	9.40	9.27	9.63
Properties & Construction	7.74	8.28	8.61	8.96	8.86	8.66	8.26	8.73	9.23	9.25	9.46	9.87
Information Technology	32.75	34.34	37.23	38.86	38.17	36.58	36.41	38.70	39.21	35.52	38.53	38.51
Conglomerates	4.32	4.54	4.78	4.54	4.49	4.54	4.26	4.50	4.52	9.06	9.58	10.08
All stocks	9.75	10.17	10.67	10.89	10.84	10.88	10.53	11.09	11.83	12.99	13.04	13.43

* Industry classification is provided by Hang Seng Indexes Company Limited.